April 25, 2018 / 6:41 PM / a month ago

Chile's Copec says to double 2018 investments from year ago

SANTIAGO, April 25 (Reuters) - Chilean industrial conglomerate Empresas Copec SA said on Wednesday it would invest $2.159 billion in 2018, nearly double 2017 levels as it aims to grow its forest and energy business in South America.

Copec is one of the world’s biggest cellulose producers through its Arauco unit and distributes fuels in Chile and Colombia. It also does business in electricity generation, mining and fishing.

Of the expected investments, 45 percent will be dedicated to forestry and 54 percent to the fuel sector, Copec said. (Reporting by Felipe Iturrieta; Writing by Caroline Stauffer Editing by James Dalgleish)

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